Putting start-ups on the road to success
For many businesses that are just starting out, a lack of trading history can be a stumbling block when finding a funding facility. Yet, with so many products and providers to choose from, there are options available – if you know where to look.
A wholesalers of golf equipment, clothing and accessories required a business loan to help bring in more stock to satisfy demand.
However, despite their early success within the first nine months of trading, with no tangible security, their application for a bank loan was declined.
At this point the business could have taken the rejection badly and given up but instead they approached Hilton-Baird’s team who were confident that the perfect facility was out there and set out to help.
With extensive knowledge of the commercial finance market, we were able to identify a selection of loan providers that considered the business and its potential rather than focussing on its limited trading history and could provide the facility required.
Our support didn’t stop there
Loan applications can be confusing and challenging to complete, so we supported the business through the application and maintained regular dialogue throughout the process to ensure a suitable solution was sourced.
With our help, the business secured a £10,000 loan over a 12-month period and the business is able to purchase stock to keep up with demand and put them on track for a successful future.
If your business needs to access a business loan, we could help. Contact us on 0800 9774833 or info@hiltonbaird.co.uk to discuss your requirements with one of our expert funding consultants.
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